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Russian Stocks Too Cheap to Sell But India the Better Option


Mexican stocks are too expensive and investors can find better opportunities in other emerging markets like India, said Alexander Muromcew, portfolio manager for the TIAA-CREF Emerging Markets Equity Fund. Muromcew said second quarter earnings in Mexican stocks have been average, while the recent pause in Indian stocks will refresh the bull market which began with Prime Minister Modi's election. He also said that low interest rates are a net marginal positive and a 50 basis point move should not affect emerging market stocks too much. Finally, Muromcew said that Russian stocks are too cheap to sell, yet there is no rush to buy them either because of the geopolitical and recession risks involved.